Neopulse-Kingnet Consortium Becomes Wemade's Largest Shareholder... "Expanding Global and Chinese Business"

All Procedures to Be Completed by Next Month, Including Final Payment
"Expanding Publishing and IP Licensing Businesses"

An investor consortium led by game-focused investment platform Neopulse and the Chinese game company Kingnet will become the new largest shareholder of Wemade. Notably, Kingnet had been involved in a decade-long legal dispute with Wemade over "Legend of Mir 2", and the consortium’s formation is expected to bring changes to Wemade’s business operations in China.

On September 14, Wemade and Neopulse issued a joint statement regarding the change in largest shareholder, announcing that the closing process is currently underway. On June 30, Neopulse entered into an agreement to acquire a 39.33% stake (13,350,738 shares) in Wemade, previously held by Chairman Park Kwanho, for approximately KRW 920 billion. The parties are proceeding with the remaining procedures to close the transaction, such as payment of the balance and regulatory approvals, by September 30.

Once the transaction is completed, the investor consortium will become the largest shareholder of Wemade, with a cumulative stake of 40.25%. The consortium then plans to focus on expanding various business opportunities, including publishing and core intellectual property (IP) licensing in both the global and Chinese markets. In addition, they will establish a framework to strategically address different risks based on their rich understanding and experience in the local market and industry.

A representative from Wemade stated, "We will prioritize stable business operations and sustainable growth, working closely with the consortium to faithfully carry out the related procedures. Our key business initiatives and organizational operations currently in progress will continue as planned without disruption."

This content was produced with the assistance of AI translation services.